Miami International Holdings Announces Appointment of Paul V. Stahlin, Former Chairman of the AICPA, to Its Board
PRINCETON, New Jersey, May 28, 2014 – Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options Exchange (MIAX), announced today that Paul V. Stahlin, former Chairman of the American Institute of Certified Public Accountants (AICPA), has been appointed to the Company’s Board of Directors. Mr. Stahlin will also serve as Chairman of the Audit Committee of MIH.
“We are delighted to welcome Paul to the Board,” said Thomas P. Gallagher, Chairman and CEO of MIH. “He brings exceptional accounting and auditing experience, including previously serving as the Chairman of the AICPA. Paul is an exceptional addition to both our Board of Directors and Audit Committee, and we are looking forward to the perspective he will provide related to our strategy and operations as we continue to implement our business plan and consider new ventures and initiatives in the future.”
Mr. Stahlin was employed by Fulton Financial Corporation from 2005 until April 2014, where he served as CEO and/or president of various banking subsidiaries, including Somerset Valley Bank, Skylands Community Bank, and most recently as Regional President of Fulton Bank of New Jersey and Chairman of its Risk Management Committee. Prior to joining Fulton Financial Corporation, he was with Bank of America from 1980 to 2005, and prior to that with Price Waterhouse & Co. from 1974 to 1980.
Mr. Stahlin has also been involved with numerous company boards throughout his 40-year career. Previously, he served as the Chairman of the Board of the American Institute of Certified Public Accountants, Chairman of both the Board of Directors and Risk and Compliance Committee of Somerset Medical Center, and President of the New Jersey Society of Certified Public Accountants.
Mr. Stahlin is a graduate of Montclair State University in Montclair, New Jersey, and is a Certified Public Accountant and Chartered Global Management Accountant.
For further information regarding the MIAX Options Exchange, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.
About MIAX and MIH
MIAX, which commenced operations on December 7, 2012, is a fully electronic options trading exchange approved by the SEC as a national securities exchange on December 3, 2012. During its first year of operations, MIAX maintained an astounding uptime of 100% and achieved a high-water mark of over 3% market share of U.S. options trading. MIAX has assembled a team with deep rooted experience in developing, operating and trading on options exchanges. Its trading platform has been developed in-house and designed from the ground up for the unique functional and performance demands of derivatives trading. MIAX Options now lists and trades options on the majority of the top 1,100 multiply listed classes. The MIAX Options Exchange’s unparalleled system throughput is in excess of 27 million quotes per second. The average latency for a single quote on MIAX is approximately 24.7 microseconds for a full round trip. At the 99th percentile, the latency on MIAX is approximately 39.7 microseconds. At the 99.9th percentile, the latency on MIAX is approximately 102.4 microseconds. The MIAX executive offices and technology development center as well as the National Operations Center for the MIAX Options Exchange are located in Princeton, New Jersey.
